Should you leave a job you love for more money? This is a question a lot of job seekers ask when looking for the next job in their career. Should you stay with your current employer or should you trade up to a new one?
When working for a great company the idea of leaving can be tough. If you’re spending every day doing something that you enjoy and you find it fun and rewarding, why would you want to change? The most common answer? Money.
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Is more money a good reason to change jobs?
More money is a good reason to change jobs if you’re in a financial bind and need the extra cash or if you’re positive the new job will provide equal or greater job satisfaction than your current job.
However, if you’re not in dire straits financially and you’re unsure what the new job full entails, it might be better to stay put. Your quality of life matters and if what you do now makes you happy, it would be a risk to jeopardise that.
Although it’s easy to get caught up in the idea of higher pay and the things you could do with the additional funds, money isn’t everything. Some people find that the stress and time commitments of a higher paid job aren’t worth the money. The grass isn’t always greener on the other side.
Consider your priorities and what’s important to you before making a decision.
When you’re trying to decide whether to stay at your present job or change jobs for a better-paying one, there are several things to consider.
The first is whether the new job would give you greater opportunities for advancement or challenge. If it would, what kind of work does the new job entail? Does it require skills you don’t have now, but that you’d like to have? Next, consider the happiness and job satisfaction your current job provides, how confident are you that the new job could match or beat that? Finally, what would your quality of life and work/life balance be like in your new job?
If you have been working in a particular field for some time and are looking to get more challenging work, then changing jobs can be a good move. However, if the new job has sales quotas or other performance requirements, then it could be a bad move if that kind of pressure makes you uncomfortable or stressed.
If you’re considering leaving for a higher salary and better position, then ask yourself whether your future boss will treat you as well as you currently are and if the working environment will be acceptable to you, one that will allow you to succeed.
Should you tell your boss that you want more money?
An open and honest conversation with your boss about your ambitions whether that be purely financial or career growth opportunities can give you a much clearer idea of what you want to do with your future.
If money is your only motivator and you are prepared to seek employment elsewhere to achieve this, making your boss aware of this could result in a pay rise. This is not guaranteed and several factors will come into play such as, can the company afford it? Are you and your skills highly valued in your position? What would be the cost of losing you/replacing you?
You should approach this topic professionally and gently. Charging in and demanding more money to stay will likely not be well received.
Have a conversation with your family, do they think you should you leave a job you love for more money?
If you feel you are ready to move on, it is time to have a talk with your family. It may be difficult for your family to understand your idea of leaving a job that you enjoy that might also have good benefits for something new and unknown.
Having an open dialogue with your family about your new job is important because having family support is essential when taking on a new career opportunity.
Take time to detail your plan to prepare them for this next step in your life, they should be supportive of the changes you will make. This may include working longer hours and weekends or occasional travel but by discussing your out of work responsibilities such as child care this discussion can help you understand how much extra you could take on with a more demanding job.
Consider all factors before making the jump
When it comes to finding a new job, there are so many factors to consider, including job duties, location, salary, benefits and more. Regardless of the field you’re in or the type of job you’re looking for, you must consider all of these factors in order to make a good decision.
There’s no one right answer when it comes to choosing between jobs, but there are questions you should ask yourself when deciding between two positions.
- What would be my title and responsibilities?
- Will I need to relocate?
- How does the new position fit in with my career goals?
- Is the pay increase significant enough to consider leaving your existing job?
- What is the timeline for making a decision on this job offer?
- What are the best and worst parts of each job opportunity?
- Do I want to stay at my current company or am I ready for a change?
- Are there growth and earning potentials with my current employer?
- Can a new job with added responsibilities fit in around my lifestyle and out of work commitments?
- Will you be gaining or losing additional benefits such as health insurance, vacation time or fleixible working, by moving?
Conclusion
The complexities of your specific situation make it difficult to answer the question should you leave a job you love for more money, with a simple yes or no answer.
Sometimes we have to make sacrifices to achieve our dreams such as leaving a job we are comfortable and happy with. This can be a tough decision but should not be rushed into. Take a step back and look at all the possible repercussions of doing this. Use this as a learning experience and find out if it’s really worth changing jobs to reach your financial goals.
If you decide the time is right to move, you might be interested in our article How to Resign From Your Job in the Best Way Possible.
The grass isn’t always greener on the other side and sometimes you can reach your goals within the environment you are in, be sure to explore all of the options where you currently are before committing to a move away.
